Priced out of Sydney? Here’s where you can buy for under $500k

HALF a million dollars may go a long way in some parts of the country, but in NSW — and particularly around Sydney — it is a drop in the real estate ocean. But we’ve put together a list of places you can still afford to buy ... some may shock you.

The do's and don't's of buying1:22

Love it or List It's Andrew Winter gives some handy tips for buying at both an auction and private sale.

December 4th 2017

6 months ago

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DESPITE the Sydney housing boom seemingly being over, it is near impossible to find a house for under $500,000.

While this may be the case, there are still a few secret spots across New South Wales and even in Sydney where you can snap up a house for under that magic mark.

A tree change or a sea change are a buyers best bet when it comes to spending under $500,000, with some of New South Wales’ most picturesque lifestyle spots like Wollongong and the Central Coast still in reach.

Agent James Ianni from Bevans in Wollongong said affordable property in these places was attracting both first home buyers and retirees.

Units across much of Western Sydney can be purchased for below $500,000, with areas like Liverpool, Fairfield and much of the Macarthur and Penrith areas all within that price range, according to CoreLogic data.

Very small pockets in the Blacktown area like Willmot and Tregear, with median prices of $475,000 and $490,000 respectively, have cheap homes available as well, and are only a 50 minute drive to the CBD.

This house at 142 Captain Cook Dr in Willmot has a price guide of $499,950Source:Supplied

Units in Liverpool are within reach for bargain hunters.Source:Supplied

Situated in the Blue Mountains, Lithgow is a fantastic lifestyle location for buyers looking for an affordable inland haven. Just a two-hour drive from the CBD, the median house price in Lithgow is $300,000. There are currently a number of vacant blocks of land on the market, providing a blank canvas for those who might want to build their dream home.

This character cottage at 92 Hartley Valley Rd in Lithgow has a price guide of $370,000-$390,000.Source:Supplied

Being close to the beach and just a 90 minute drive from the Sydney CBD, you would expect prices to be at the higher end of the scale. Not so in Wollongong, where there are plenty of cheaper units on the market and a few pockets of housing. In the Wollongong Council area there are two suburbs with a median house price under $500,000. Warrawong and Cringila both have a median price of $470,000 and are just a short drive from both Wollongong and beaches. Apartments throughout the region are also relatively affordable, with new one-bedroom units in the CBD available for under $500,000.

This four-bedroom house in Warrawong at 21 Second Ave North has a guide of $495,000-$540,000.Source:Supplied

San Remo, Mannering Park, Gorokan and Doyalson are just a few of the affordable suburbs on offer on the Central Coast. Still only a few hour’s drive from Sydney and close to the water, savvy buyers can pick up a bargain in these areas, paying between $375,000 and $500,000 for a freestanding house.

22 Barker Ave in San Remo has a price guide of $385,000-$420,000.Source:Supplied

THE REST OF NSW

Large regional towns like Goulburn, Bathurst, Dubbo and Orange provide the chance to buy into some of NSW’s most historic townships. Bathurst in particular has Charles Sturt University and is home to the famous Bathurst 1000 car race.

Coastal hot spot Batemans Bay and its surrounding suburbs are also on the list with a median house price of $370,000. Offerings range from large older style houses to more modern apartments close to the water.

This two bedroom house at 14 Parkside Place in Goulburn has a price guide of $320,000-$340,000.Source:Supplied

This two-bedroom villa at 3/106 Piper St in Bathurst has a price guide of $345,000.Source:Supplied